Now then, this strategy can be used as the traditional BB method by setting the "Stop" and "Limit Out" to like 10000, check "Reversal Entry" and uncheck "Limit Time of Day" This will keep the strategy running just reverse your position when price crosses outside each band.
Length - length of that I used for mean of (this may suppose to be , too bad)
Source - O-H-L-C basis for
Deviation - normal Standard deviation that would be set when using
Trailing stop check box - your stop value will be either a hard stop or trailing stop for an exit
Stop - the stop value - remember you can set this really high and it won't stop out
Limit Out - the limit value for exit
Reversal Entry check box - This changes each entry from a reversal (traditional idea of BB) to enter a trend trade - hopefully version 2 will have choice to trend one direction and reversal in the other.
Limit Time of Day - Especially when trading , you may want to only trade a specific time of day, when this box is checked, you can set the entry times below, exit will still only occur based on limit/stop or a flip entry order (the opposite entry condition is met)
when I don't know a thing about a price range, like gold . I can set the limit out to 10000 and play with a trailing stop to get a better idea of what is even possible before tuning further.
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.